International Monetary Fund

Introduction The economies of most countries were affected badly and left in a struggling state after the World War II. The International Monetary Fund (IMF) was initiated in the year 1944 and then formally established in the year 1945. Initially, the organization consisted of only 29 countries (De, 2011). The major objective of the IMF was to help in reconstructing the economies of the nations that were badly affected by the war.Advertising We will write a custom research paper sample on International Monetary Fund specifically for you for only $16.05 $11/page Learn More Countries that had economic imbalances would borrow money from the fund and repay over an agreed period. It is normal that nations suffer in terms of economic, political, as well as social well-being after war. War is expensive to nations that participate in it. A country that is not strong economically will suffer more compared to nations that are economically stable in the event of wa r. It becomes difficult for economically weak countries to finance their activities post-war due to the effects they suffer during war. To revive their economies, such nations depend on loans and grants from international organizations (De, 2011). The International Monetary Fund not only assists countries that are affected by war, but it also gives loans to nations whose economic difficulties are as a result of any other reason. It is imperative to note that the number of member nations has grown from 29 in the year 1948 to about 188 countries today. All these member nations are also members of the United Nations, apart from the Republic of Kosovo. The IMF has helped in increasing the stability of nations. The IMF has also been instrumental in the development of international trade. International trade has become of more importance since it facilitates globalization over the past couple of decades. In addition, the IMF has helped in the reduction of poverty across the world, as well as reducing the rate of unemployment. This research paper will focus on the ways in which the International Monetary Fund helped in reviving the world economy following the 2nd World War. The promotion of global monetary cooperation One of the reasons why the IMF was created was to promote the global monetary corporation. The IMF is an international body that helps nations that have trade imbalances. Promoting monetary cooperation with the IMF was to be done via an institution where countries would make consultation, as well as collaborations regarding the international monetary problems.Advertising Looking for research paper on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More This is a forum where nations would bring their monetary problems to the set institutions. They would then explain the problems and later get advice on how to deal with them. Since the institutions were open to various countries who were members of the IMF, it provided the chance for countries to meet with other countries which they would collaborate with in order to find solutions to their problems (Lazarus, 2002). It is important to note that there was no monetary cooperation between nations prior to the mid-20th century. In addition, there was no economic cooperation. This changed in the 1940s when the IMF was founded. When the organization was formed, it established a mechanism that would encourage cooperation between nations. The mechanism that it established was a permanent one. The IMF believed that if nations worked in cooperation, they would increase their chances of succeeding both financially and economically. This was the philosophy behind the formation of these cooperation mechanisms. There were many restrictions that existed between countries before the organization was formed, thus making it difficult for them to trade among themselves and even cooperate in any economic activities. Exchange of currencies was dif ficult, making it difficult for nations to make payments for goods and services within the required time. This was a barrier to economic development since it made trade difficult (Griesgraber, 2009). Encouraging cooperation between nations was effective in that it brought ‘economic miracles’ to nations. Member nations of the IMF were able to meet the problems that barred cooperation between them. The developing nations and the developed nations were integrated into the global economy in order to help them deal with some of the problems that they were facing. For instance, when the nations were integrated into the global economy, they were able to deal with the debt crisis that existed in the 1980s. In addition, communist economies were encouraged and the economic crises in the 1990s were dealt with effectively. This was one of the initiatives that led to the development of globalization. It is important to note that globalization started in the 20th century, around the same time when the IMF was formed and following the end of the 2nd World War. It is, therefore, an indication that the efforts by the IMF to form cooperation mechanisms that eliminated barriers between nations was one factor that led to the development of globalization. Globalization is a major factor in the growth of the national economy in today’s economic world. Organizations such as multinationals are formed through globalization (Haynes, 2012).Advertising We will write a custom research paper sample on International Monetary Fund specifically for you for only $16.05 $11/page Learn More These are organizations that generate a lot of revenue to the economy and they are effective in the economic development of nations. It is due to globalization that most technologies have developed today. Innovations have also increased, making trade to develop and become of much significance in the growth of national, as well as global economies. Therefore th e IMF helped in reconstructing the economy of the globe after the World War II through the promotion of global monetary cooperation. Stability of the country’s financial standing The IMF was also instrumental in promoting the financial standing of nations. There were countries that were facing difficulties in terms of finance in the early 20th century, while others were financially stable. This created imbalances in the world economy, a factor that IMF was determined to address. One of the ways in which IMF addressed this issue is that it collected money from the nations. This is where nations would contribute through a quota system to a pool of money. Countries that contributed to this pool of money were mainly those nations that had some stability in their economies. Countries that were facing payment imbalances would then borrow from this fund and were expected to repay it over an agreed period of time. When a country borrowed the money, it would meet most of its financial obligations and improve the payment imbalances to increase its financial stability. In addition, lending countries money would help them establish corrective measures that would help them avoid any abnormal changes on external imbalances (Fritz-Krockow, Ramlogan International Monetary Fund, 2007). Countries that are facing difficulties in balance of payments are not likely to develop in terms of the economy, thus they remain highly unstable. Such countries may not be able to finance most of their government activities. This means that most programs in the country end up failing and the citizens face difficulties since it becomes difficult for them to meet their basic needs. The instability that results from such imbalances is what the IMF tried to solve in order to fuel reconstruction of the global economy after the 2nd World War. It helped member nations to mobilize external funds that would help them meet their needs on balance of payment and increase their economic stability (G artner, 2013).Advertising Looking for research paper on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More The increase in international trade International trade is one of the things that contribute to the growth of the global economy. International trade refers to the trade activities between nations. It is important to note that international trade is not the same as globalization; however, globalization has developed through international trade. Despite the fact that international trade has the ability to improve the economy of the globe, it is faced with a number of barriers that prevent its development. Among the barriers are the restrictions that are put in place by various nations. These restrictions were very common in the early years of the 20th century. Most nations had put laws and regulations that prevented free trade with other nations. As a result, it was difficult for international trade to flourish and realize global economic growth. Among the functions that the IMF conducted was to promote international trade through elimination of these trade barriers. IMF informs its member nations about the conditions and the economic statuses in other nations (Pop-Eleches, 2011). This is a factor that helps the member states to take advantage of the economic status in other countries to exploit opportunities in order to promote international trade through investment. For instance, exchange of currencies was made easy by the IMF. It became easy for a nation to make payments for goods and services from other nations. The IMF also helped in the increase of the global supply of international reserves. The IMF facilitated the issue of an international reserve asset that was referred to as the Special Drawing Right (SDR). The reserve was to be issued in instances where there was need for supplementing the existing reserve assets. This SDR was kept as an international reserve and could be exchanged for currencies that were convertible. One thing that has to be noted is that the SDR is not a claim on the IMF. However, it is a unit under which the financial transaction s of the IMF can be accounted for. This reserve has the ability to impact on international trade. It is a reserve supplementing the reserves of the member nations and makes them get money to finance trade and facilitate exchange of currencies. Consequently, the International Monetary Fund was able to fuel reconstruction of the global economy after the Second World War and in the early years of the 20th century (McEuen International Monetary Fund, 2001). Advancing economic growth and high employment rate A large number of people were jobless in the early 20th century, a situation that had led to high poverty levels in most countries. One of the reasons why the rate of unemployment was high is due to the minimal trade that existed between nations. More business organizations and trading activities emerge when trade increases. As a result, people are able to get employments. Therefore, one of the strategies that IMF used to reduce the rate of unemployment was to improve international trade. As earlier mentioned, international trade failed to develop prior to the formation of IMF due to the many trade restrictions that existed among countries. The first initiative by the IMF was, therefore, to eradicate all those trade barriers among the member countries. This eased transactions that were to be conducted among nations (Gupta, Fonds moneÃŒ taire international, Development Assistance Committee’s Forum on Key Elements for Poverty Reduction Strategies, 1998). Another way through which the IMF helped in creating employment was by providing funds to nations that were suffering from trade imbalances. These funds would help the member nations make investments on government projects. This would also create employment for citizens. People have little or no income when they are not employed, and their standards of living are usually low and poor. However, the IMF helped in the reconstruction of the world’s economy after the Second World War by facilitating g rowth and development of international trade and creation of employment. Reduce the need and poverty around the world Many people were living in poverty as a result of high rates of unemployment. The rate of poverty was especially high in countries that were regarded as low income earners. These were nations whose economies were lagging behind and whose development was low. The IMF was committed to elevating the rate of in poverty in these nations. One of the reasons why the many parts of the world were living in poverty is because most citizens were not employed; therefore, people had no income to better their lives. It is difficult for a nation that has poor people to develop economically. In fact, one of the measures that indicate economic growth is increase in the living standards of people. This acts as an indicator that people have income to improve their living standards (Boughton, 2001). The IMF was determined to reduce the level of poverty that existed in various countries after the World War II. One way to do this was to give loans to such nations to help them meet their needs and finance their projects. The loans were given at a low interest rate and the payback period for the loans was given to be longer than normal. Further, promoting the development of productive resources would facilitate the creation of employment and, in turn, avail real income to citizens. This would help citizens improve their living conditions. The surveillance of the economic policies of the member countries was integral in improving the level of poverty that existed among nations. This helped in the reconstruction of the world’s economy after the World War II. Conclusion The IMF was formed in 1945 and has since then been playing a major role in establishing economic stability and growth among nations in the world. The organization was formed with only 29 member countries initially, but it has grown to include 188 countries today. The IMF helps member nations grow e conomically by providing loans to nations that have trade imbalances. As a result, the rates of employment in these nations’ increase and the levels of poverty are reduced. It is, therefore, evident that the policies set by the IMF have been effective in the reconstruction of the world’s economy after the World War II. References Boughton, J. M. (2001). Silent revolution: The International Monetary Fund 1979-1989. Washington, D.C.: International Monetary Fund. De, J. A. (2011).Transnational corporations and international law: Accountability in the global business environment. Cheltenham: Edward Elgar Pub. Fritz-Krockow, B., Ramlogan, P., International Monetary Fund. (2007). International Monetary Fund handbook: Its functions, policies, and operations. Washington, D.C.: International Monetary Fund, Secretary’s Department Gartner, D. (2013). Uncovering Bretton Woods: Conditional transparency, The World Bank, and the International Monetary Fund. George Washington International Law Review, 45(1), 121-148 Griesgraber, J. (2009). Reforms for major new roles of the International Monetary Fund? The IMF post-G-20 Summit. Global Governance, 15(2), 179-185. Gupta, S., Fonds moneÃŒ taire international Development Assistance Committee’s Forum on Key Elements for Poverty Reduction Strategies. (1998). The IMF and the poor. Washington, D.C.: International Monetary Fund Haynes, J. (2012). Overseeing the international financial and monetary system: a critical analysis of the International Monetary Fund’s Article IV surveillance mandate. Law Financial Markets Review, 6(4), 292-295 Lazarus, S. L. (2002). IFC and its role in globalization: Highlights from IFC’s participants meeting, Washington, D.C., June 6-7, 2001. Washington, D.C.: World Bank. McEuen, J., International Monetary Fund. (2001). Financial organization and operations of the IMF. Washington, D.C.: International Monetary Fund. Pop-Eleches, G. (2011). From economic crisis t o reform: IMF Programs in Latin America and Eastern Europe. Princeton, NJ: Princeton University Press. This research paper on International Monetary Fund was written and submitted by user Lilly Cunningham to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.

buy custom Alfred Green essay

buy custom Alfred Green essay In April 1861 Alfred M. Green gave out a speech in Philadelphia, the very first month that the civil war started. African Americans were not in a position to be in the Union army, although Green had the opinion that they should try to be considered in the army and to be enlisted. Green used to influence his fellow friends who were Africans to join the popular Union forces. He was one of the affected races and thus felt it was his responsibility to encourage individuals to join in the fight. Dred Scott had to endure many months of imprisonment after being charged with treason. This resulted in unfair judicial rulings that came about as result of investigations. In spite of all they endured, their pay was sympathy and concern regardless of the difficulties they survived to bring about emancipation. The most important thing that Dred preached to the people was not to complain over the mistakes that had happened in the past but to deal with the future. One is bound to act responsibly so as to achieve individual objectives. The consequences of thinking about the past encourage bitter memories and these acts as an impediment to the development of the country. The fighting spirit and enthusiasm to get back to the battle field is a disavantage because it brings about unfairness and discrimination. This is because it creates unfair playing field as not every one is in a position to enjoy the civil and religious rights. It was time for the people to unite and come together and fight the social evils and entrench vales such as patriotism, freedom and tolerance to religion and civil rights. These were the principles that were important to bring about independence and equality among the different races. Historical moment in the great Republic was evident as the world was giving birth to a race which was brave and patriotic. Individuals had to fight for the soveignity of the country regardless of whether it was an equitable and a tolerant nation. These core values are important as they are the guiding factor that encourages true patriotism. The bravery deed of the fore fathers that was started by the immortal revolutionaries of Washington in the year 1776 by Jackson, and other people in the war that took place in the year 1812 was significant. Citizens could not enjoy the privileges as their rights which were an essential part of their lives were denied. Despite the fact that the forefathers had to endure a lot of suffering to bring out independence, still the rights oof the noble people were not respected. The many scars that were left behind as a result of the war were a symbol of respect as they were part of the slave laws. It brings into focus the importance of emphasizing to hope for better future and developing the present favorable moment .Such a conducive environment creates a new just and a honorable Republic. It is important that the honor bestowed to the forefathers for bringing about change should not be tainted with shameful actions by the people in order to proclaim heroism acts. Dred brings into focus the importance of trusting in God so as to protect the righteous and bring about freedom and general political parity. People should disregard the common message preached by the howling leaders that encourages treason and secession. This system encouraged tyranny and slavery in the American Republic. Lastly, enlisting the people in the Northern troops would encourage the oppressed individuals living in the south to have the spirit to overthrow the system of government that was dictatorial. At the same time, it would restore confidence in those who believed in God as the Supreme Being and one that demands a life full of honesty, truth and equality amongst all people. Buy custom Alfred Green essay

Biography of Senator Elizabeth Warren, Senator and Scholar

Biography of Senator Elizabeth Warren, Senator and Scholar Senator Elizabeth Warren (born Elizabeth Ann Herring on June 22, 1949) is an American politician, scholar, and professor. Since 2013, she has represented the state of Massachusetts in the United States Senate, affiliated with the Democratic Party. In 2019, she became a candidate for President of the United States. Fast Facts: Senator Elizabeth Warren Known For: A prominent Democratic politician of the late 2010s, Warren had a previous career as one of the top legal scholars in the country.Occupation: United States Senator from Massachusetts; previously a professor of lawBorn: June 22, 1949 in Oklahoma City, OklahomaSpouse(s): Jim Warren (m. 1968-1978), Bruce H. Mann (m. 1980).Children: Amelia Warren Tyagi (b. 1971), Alexander Warren (b. 1976) Early Life and Education Elizabeth Warren (nà ©e Elizabeth Ann Herring) was born in Oklahoma City, the fourth child and first daughter of Donald and Pauline Herring. Their family was lower-middle class and often struggled to make ends meet. Things worsened when Warren was twelve and her father, a salesman, had a heart attack, leaving him unable to do his job. Warren started her first job- waitressing- at age thirteen in order to help make ends meet. In high school, Warren was a star of the debate team. She won Oklahoma’s state high school debating championship when she was sixteen and earned a debate scholarship to attend George Washington University. At the time, she intended to study to become a teacher. However, after two years of studies, she dropped out to marry Jim Warren, whom she had known since high school. The couple married in 1968, when Warren was nineteen. Law School and Teaching Career When Warren and her husband moved to Texas for his job with IBM, she enrolled at the University of Texas, where she studied speech pathology and audiology. However, they moved to New Jersey soon after on another of Jim Warren’s job transfers, and when she became pregnant, she chose to stay at home with their daughter Amelia. In 1973, Warren enrolled in Rutgers Law School. She graduated in 1976 and passed the bar exam; that same year, the Warrens’ son Alexander was born. Two years later, in 1978, Warren and her husband divorced. She chose to keep his last name, even after she remarried in 1980 to Bruce Mann. For the first year or so of her career, Warren did not actively practice law in a law firm, instead teaching children with disabilities in a public school. She also worked from home doing minor legal work such as wills and real estate filings. Warren returned to her alma mater in 1977 as a lecturer at Rutgers. She remained there for one academic year, then moved back to Texas to take a job at the University of Houston Law Center, where she worked from 1978 to 1983 as the associate dean for academic affairs. In 1981, she spent some time as a visiting associate professor at the University of Texas Law School; she returned from 1983 to 1987 as a full professor. Legal Scholar From the beginning of her career, Warren often focused her work and research on how real people interact with the law in their daily lives, with a particular emphasis on bankruptcy law. Her research made her a respected rising star in her field, and she continued her work throughout the 1980s and 1990s. In 1987, Warren joined the University of Pennsylvania Law School as a full professor in 1987 and in 1990, she became the William A. Schnader Professor of Commercial Law. She taught for a year at Harvard Law School in 1992 as Robert Braucher Visiting Professor of Commercial Law. Three years later, Warren returned to Harvard full-time, joining the faculty full-time as the Leo Gottlieb Professor of Law. Warren’s position made her the first tenured Harvard law professor who had gotten a law degree from an American public university. Over time, she became one of the most prominent legal scholars in bankruptcy and commercial law, with a large number of publications to her name. It was in that capacity that she was asked, in 1995, to advise the National Bankruptcy Review Commission. At the time, her recommendations failed to convince Congress, and her advocacy failed, but her work helped lead to the establishment of the Consumer Financial Protection Bureau, which was signed into law in 2010. Political Career Although Warren was a registered Republican until the 1990s, she shifted to the Democratic Party during that decade. It wasn’t until 2011, however, that she began her political career in earnest. That year, she announced her candidacy for the 2012 Senate election in Massachusetts, running as a Democrat to unseat Republican incumbent Scott Brown. Her breakout moment came with a September 2011 speech that went viral, in which she argued against the idea that taxing the wealthy is class warfare. In her response, she argued that no one becomes rich without leaning on the rest of society, from workers to infrastructure to education and more, and that the social contract of a civilized society means that those who have benefited from the system invest in it again to help the next people who want to do the same. Warren won the election with nearly 54 percent of the vote and quickly became a star in the Democratic Party. Her committee assignment was the Senate Banking Committee, given her extensive experience in economics. Soon, she gained a reputation for her unforgiving questioning of big banking executives and regulators. Senator Elizabeth Warren also introduced a bill that would allow students to borrow from the government at the same rate as banks. In 2015, she co-sponsored legislation along with Republican and independent senators that was built on the Banking Act of 1933 and intended to reduce the likelihood of future financial crises. Leading Opposition and Running for President Following the 2016 election of Republican Donald Trump to the presidency, Warren became an outspoken critic of his administration. A defining moment occurred during the confirmation hearing for Jeff Sessions, a Republican senator nominated for attorney general. Warren attempted to read a letter aloud that Coretta Scott King had written years earlier, arguing that Sessions used his powers to suppress black voters. Warren was stopped and censured by the Republican majority; she read the letter aloud on an Internet livestream instead. In his censure, Senate Majority Leader Mitch McConnell said, â€Å"[Warren] was warned. She was given an explanation. Nevertheless, she persisted.† The statement entered the pop culture lexicon and became a rallying cry for women’s movements. Senator Warren has opposed many of the Trump administration’s policies and has also spoken publicly about perceived conflicts of interest and misconduct by Trump himself. Warren has also been embroiled in her own headline-making scandal stemming from her claims to Native American heritage, which she repeated over the course of several years. When Warren took a DNA test that confirmed the presence of a Native ancestor, the controversy was compounded by tribal leaders’ criticism of using a DNA test results as a way of claiming Native American identity. Warren apologized for her handling of the controversy and clarified that she understands the difference between ancestry and actual tribal membership. In 2018, Warren won re-election by a landslide, taking 60% of the vote. Soon afterwards, news broke that she had formed an exploratory committee to run for president in 2020; she confirmed her candidacy in February 2019. Her platform is based on transparent policy proposals and a coalition of working class, union workers, women, and immigrants, and she positions herself as a direct contrast to the Trump-led Republican party of the current era. Sources â€Å"Elizabeth Warren Fast Facts.† CNN, 5 March 2019, https://www.cnn.com/2015/01/09/us/elizabeth-warren-fast-facts/index.htmlPacker, George. The Unwinding: An Inner History of the New America. New York: Farrar, Straus and Giroux, 2013.Pierce, Charles P. â€Å"The Watchdog: Elizabeth Warren.† The Boston Globe, 20 December 2009, http://archive.boston.com/bostonglobe/magazine/articles/2009/12/20/elizabeth_warren_is_the_bostonian_of_the_year/

Compare Champion of the World (Angelou) and Fish Cheeks (Tan) Essay

Compare Champion of the World (Angelou) and Fish Cheeks (Tan) - Essay Example Maya Angelou has the historical issue of racism before her that baffles satisfactory solution and she articulates discrimination suffered by the African Americans and as such she uses narration to depict her sense of isolation from the dominant culture. Amy Tan employs the method of description to highlight the issue of generation gap and the discrimination which relates to the fascination of the young and not to the ground realities related to the Chinese versus American cultures. Both the authors articulate the issues about those who feel like aliens in principally white America. Angelou encounters and holds her differences as a child. Tan is chagrined of her culture until later in life when realization dawns on her that her exclusivity is an issue for celebration. It is not to be pitied or condemned. Angelou’s skin color made her dissimilar from the rest of the principal culture. As a young African American girl living in pre-civil rights era, Angelou dealt with discrimination without intermission and it was part of everyday lives of the black people. Rape, abuse and lynching took place in the ordinary course and yet they were full of pride for their culture. Some of them were outstanding like Joe Louis, a black boxer, who challenged a white man in a heavyweight boxing competition of the world. The contest was watched by one and all of the Black Americans. Maya Angelou describes the bout-eve scenario thus: â€Å"The last inch of space was filled, ye t people continued to wedge themselves along the walls of the store† (p.112). This indicates that the Black Americans, who were isolated from the mainstream society, were thrilled to find their man getting space and recognition and he was being watched on the television by millions. Their isolated spirit was beginning to get recognition by the society. When he wins the contest, the reaction of Angelou is obvious. She is inflated with pride and her original conviction about the greatness of the

China - Literature Development, Confucianism and Revolutions Essay

China - Literature Development, Confucianism and Revolutions - Essay Example Additionally, the essay discusses the philosophy of Confucius herein referred as Confucianism and how it has influenced the lives of the people of China in reality to date. Finally, the paper provides an in-depth analysis of the 1911 – 1949 revolution as the revolution with the greatest impact on China socially, economically and politically. A brief summary conclusion shall be provided that summarizes the thoughts in this essay. Redness or red as it were was a term used to refer to certain attitudes that were political and ideological. They were prescribed by the doctrine of Maoist. The expert on the other hand usually juxtaposed with the reds was used to denote special skills or knowledge in science or technology. As such tension existed between the two groups in the twentieth century in China with the two terms used in juxtaposition to one another (Schoppa, pg.112). Therefore redness had to do with the political and ideological attitudes while experts were intellectuals in this period. As such during the twentieth century, the two sides conflicted with beliefs that the two were mutually exclusive and could not be combined. Strauss, (578 -580) explains: As the two sides differed in ideologies it became difficult for them to strike a balance between the two in China. Chinese literature was indeed very crucial for nation building having a very resilient traditional cultural legacy. Thus it defined Chinese nationalism. Therefore striking a balance between reds and experts became one great challenge for this nation. The nation then took to carry out education reforms from the 1950s onwards and Chinese literature entangled with the nation building. As such the nation’s culture was defined by its literature. In the wake of a movement called the new culture, Kaozheng (reds) method came to be first provided. This was in 1917. Through this, a novel was written in vernacular focusing on canonizing the literature of Chinese.

New Grub Street Essay -- Essays Papers

New Grub Street New Grub Street is known as George Robert Gissing’s best and most respected novel. This masterpiece gives its readers a taste of the anti-idealistic principle that is shown all throughout Grub Street. This society that Gissing has mirrored from his own life experience is one that revolves around selfishness and money. The reader is supposed to understand that the art of literature cannot exist without good economic means. The term Grub Street continues to be used in reference to authors and journalists who are compelled to struggle desperately to make a bare livelihood, and also to those who have no scruples about what they write so long as it brings them profit or popularity (Ward 32). The novel’s two main characters are Edwin Reardon and Jasper Milvain who just happen to be complete opposites. Edwin is the protagonist who is full of self-pity, brains, and insecurities. He faced poverty and loneliness when he found himself unable to write for social popularity and reputation. Jasper was insensitive and practical. His business like qualities led him to success instead of sheer talent. Charming and ambitious – he shrewdly calculated and did everything that could bring him to success. Morals did not matter nearly as much as being rich. New Grub Street was first published in 1891. It was Gissing’s ninth book out of twenty-three as well as being his most important and enduring work. Smith, Elder, & Co published it in three volumes (Gissing 1). This was his first novel that sold quite well. There was a second printing within one month and two subsequent editions in hardly less than a year. Although the book did very well, Gissing still faced poverty because the copyright was sold ... ...le to make such an impact on its readers. All throughout Grub Street the reader is able to take notice of those with money and less morals and values get ahead while the good guy is left behind. After reading this novel it is easy to see how art can finally be valued. Gissing has undoubtedly shown through his writing that certain important literary men have gone unnoticed and unappreciated. Works Cited Dimauro, Laurie, ed. Twentieth-Century Literary Criticism. Vol. 47. Detroit: Gale Research Inc.,1993. 130 vols. Gissing, George. New Grub Street. NY: Random House, 2002. Michaux, Jean-Pierre, ed. George Gissing: Critical Essays. London: Vision Press Limited,1981. Selig, Robert. George Gissing. Twayne's English Authors Ser. 346. NY: Twayne's Publishers, 1995. Ward, A.C. Gissing: Writers and Their Work. Vol. III. NY: Longmans, Green & Co, 1959.

Legal System

â€Å"The legislature cannot, according to our constitution, bind itself as to the form of subsequent legislation, and it is impossible for Parliament to enact that in a subsequent statute dealing with the same subject-matter there can be no implied repeal. If, in a subsequent Act, Parliament chooses to make it plain that the earlier statute is being to some extent repealed, effect must be given to that intention just because it is the will of the legislature. † (per Maugham LJ in Ellen Street Estates Ltd v Minister of Health [1934]). We should recognise a hierarchy of Acts of Parliament: as it were ‘ordinary' statutes and ‘constitutional' statutes. [†¦ ] Ordinary statutes may be impliedly repealed. Constitutional statutes may not. For the repeal of a constitutional Act or the abrogation of a fundamental right to be effected by statute, the court would apply this test: is it shown that the legislature's actual – not imputed, constructive or presumed – intention was to effect the repeal or abrogation? I think the test could only be met by express words in the later statute, or by words so specific that the inference of an actual determination to effect the result contended for was irresistible. The ordinary rule of implied repeal does not satisfy this test. Accordingly, it has no application to constitutional statutes. [†¦ ] A constitutional statute can only be repealed†¦ by unambiguous words on the face of the later statute. per Laws LJ in Thoburn v Sunderland Council [2002]). In the light of these judicial statements, discuss how (if at all) the doctrine of Parliamentary Sovereignty may be said to have altered because of changes to the doctrine of implied repeal. Consider also the effect of increased secondary legislation, devolution, membership of the EU and adoption of the Human Rights Act 1998 on the doctrine of Parliamentary sovereignty